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John Marshall Bancorp, Inc. Announces Filing of Form 10 with the U.S. Securities and Exchange Commission
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John Marshall Bancorp, Inc. (OTCQB: JMSB) announced the filing of a Registration Statement on Form 10 with the SEC on March 4, 2022, aimed at registering its common stock under the Securities Exchange Act of 1934. This move paves the way for the company to meet reporting requirements and pursue a listing on the Nasdaq Capital Market, initially announced on December 6, 2021. CEO Chris Bergstrom emphasized that becoming an SEC registrant would enhance visibility, access to capital, and liquidity for shareholders.
Positive
Filed Form 10 to register common stock with SEC, enhancing transparency.
Proposed Nasdaq listing expected to improve visibility and capital access.
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None.
RESTON, Va.--(BUSINESS WIRE)--
John Marshall Bancorp, Inc. (OTCQB: JMSB) (the “Company”), the parent company of John Marshall Bank, today announced that it has filed a Registration Statement on Form 10 (the “Form 10”) on March 4, 2022, with the U.S. Securities and Exchange Commission (“SEC”) to register its common stock, par value $0.01 per share, under the Securities Exchange Act of 1934, as amended (the “1934 Act”). The Form 10 filing provides information on the strategy and historical financial data of the Company. Upon the effectiveness of the Form 10, the Company will be subject to the reporting requirements of the 1934 Act and, as a result, will file periodic reports and other information with the SEC. The filing of the Form 10 follows the Company’s submission of its application to be listed on the Nasdaq Capital Market® as announced on December 6, 2021.
“Today marks an important milestone in the Company’s history,” said Chris Bergstrom, President and CEO. “We believe our proposed registration with the SEC and subsequent listing on Nasdaq will provide the Company with greater visibility within the investor community, enhanced access to capital, and better liquidity for our shareholders. As an SEC registrant, we expect to have more tools at our disposal to continue to drive the growth of the Company.”
About John Marshall Bancorp, Inc.
John Marshall Bancorp, Inc. is the bank holding company for John Marshall Bank. John Marshall Bank (“JMB” or the “Bank”) is a $2.15 billion bank headquartered in Reston, Virginia with eight full-service branches located in Alexandria, Arlington, Loudoun, Prince William, Reston, and Tysons, Virginia, as well as Rockville, Maryland, and Washington, D.C. with one loan production office in Arlington, Virginia. The Bank is dedicated to providing exceptional value, personalized service and convenience to local businesses and professionals in the Washington D.C. Metro area. JMB offers a comprehensive line of sophisticated banking products and services that rival those of the largest banks along with experienced staff to help achieve customers’ financial goals. Dedicated Relationship Managers serve as direct points-of-contact, providing subject matter expertise in a variety of niche industries including Charter and Private Schools, Government Contractors, Health Services, Nonprofits and Associations, Professional Services, Property Management Companies, and Title Companies. Learn more at www.johnmarshallbank.com.
In addition to historical information, this press release contains forward-looking statements that are based on certain assumptions and describe future plans, strategies and expectations of the Company. These forward-looking statements are generally identified by use of the words “believe,” “expect,” “intend,” “anticipate,” “estimate,” “project,” “will,” “should,” “may,” “view,” “opportunity,” “potential,” or similar expressions or expressions of confidence. The Company’s ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on the operations of the Company and its subsidiary include, but are not limited to the following: changes in interest rates, general economic conditions, public health crises (such as the governmental, social and economic effects of COVID-19), levels of unemployment in the Bank’s lending area, real estate market values in the Bank’s lending area, future natural disasters, the level of prepayments on loans and mortgage-backed securities, legislative/regulatory changes, monetary and fiscal policies of the U.S. Government including policies of the U.S.Treasury and the Board of Governors of the Federal Reserve System, the quality or composition of the loan or investment portfolios, demand for loan products, deposit flows, competition, demand for financial services in the Company’s market area, accounting principles and guidelines, and other conditions which by their nature are not susceptible to accurate forecast, and are subject to significant uncertainty. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. The Company does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
